On average, listings lease in the $20's per square foot per year. The Northeast Raleigh submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 7% decrease in rent.
Compared to the rest of the The Triangle market, the Northeast Raleigh region has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 281 listings have come on the market, so you'll want to check back regularly for new listings. About 7% of the office spaces in the Northeast Raleigh are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,500 sqft. Most buildings in this market are close to 2 floors. Most buildings in this area were built in 1988 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Northeast Raleigh occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Northeast Raleigh.
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